Foreign homebuyers favor Florida

For the fifth year in a row, Florida was the favored destination of international homebuyers, according to a report Tuesday from the National Association of Realtors.  The Sunshine State accounted for 23 percent of all deals from foreigners. California was second at 14 percent, while Texas was third at 12 percent.  The report is based on sales from April 2013 through March 2014. NAR has issued the report since 2010, and Florida has been the top choice each year.  Nationwide, there were $92.2 billion in sales from international buyers, up from $68.2 billion the prior year.  Nearly 60 percent of all U.S. sales from foreigners went for cash. Only a third of domestic buyers didn’t take out a mortgage.   “Foreign buyers are being enticed to U.S. real estate because of what they recognize as attractive prices, economic stability and an incredible opportunity for investment in their future,” NAR President Steve Brown said in a statement.

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